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Forest carbon sink efficiency refers to the efficiency of input-output indicators related to carbon sinks. This paper studies carbon sink efficiency from the perspective of resource allocation; guides the optimal allocation of resources; and selects forestry employees, forestry investment amount and afforestation area as input indicators; the forest carbon sink efficiency in China is calculated and analyzed based on a data envelopment analysis model by converting the forest volume into the forest carbon sink through the volume expansion factor method. The grey prediction model is used to estimate the change in the input indicator, and the production possibility set is constructed with the input indicator before and after the change and the current output indicator. The efficiency of the decision units before the change is calculated, and through the comparison of efficiency, the conditions of forest carbon sink increase in 15 provinces are obtained. The optimal allocation of the output indicator is calculated based on the inverse data envelopment analysis model. The largest increase in forestry carbon sink is 169,362 megatons in Guangdong, and the smallest is 619 megatons in Tianjin. Finally, some suggestions for the path of forest carbon sink increment are put forward. [ABSTRACT FROM AUTHOR]

Carbon emission trading scheme (ETS) policy is a quota-based market-motivated environmental regulation policy that by transforming environmental responsibility of enterprises into self-consciousness behavior induces green innovation behavior in enterprises and influences the level of regional green innovation. Based on panel data on green patents in 30 Chinese provinces from 2010 to 2019, the paper uses six Chinese pilot provinces for ETS as the treatment group to investigate the induced effects of Chinese ETS policy on the quantity and quality of green technology innovation using difference in difference model and analyzes the effects of Chinese ETS policy on green technology innovation in different pilot regions using a synthetic control method. The findings indicate that (1) compared with non-pilot areas, the carbon emission trading policies in pilot areas can induce green technology innovation activities. (2) In all pilot regions, ETS policies significantly promoted the quantity and quality of green technology innovation, but the quantity promotion effect was significantly better than the quality promotion effect, and the low-quality promotion effect was better than the high-quality promotion effect. (3) In terms of individual pilot region, ETS policies in Guangdong, Hubei and Tianjin significantly promoted the quantity of green technology innovation and low-quality green technology innovation, but significantly inhibited or suppressed high-quality green technology innovation in a short term. This paper not only enriches the research on environmental equity trading policies and green technology innovation theoretically, but also provides empirical evidence for the effectiveness of carbon emission trading schemes pilots program in China. [ABSTRACT FROM AUTHOR]

This paper studies when and under what conditions the actions undertaken by the power plants involved in China's emission trading scheme (ETS) pilot became cost effective. Based on unique plant-level panel data and the difference-in-differences strategy, we identify that an insignificant initial reduction in cost efficiency occurred at the announcement stage for power plants in the pilot provinces; however, the cost efficiency of the pilot plants increased significantly following formal policy implementation. Additionally, the by-stage treatment effects differed across the pilot provinces due to localized market and non-market variations. Localized conditions of higher marketization, stricter policy enforcement, and lower carbon dependence enhanced this positive effect. The synthetic control results confirmed this variation in the policy effects. The carbon trading pilots resulted in improved efficiency in power plants in Shanghai, Guangdong, and Tianjin during the period 2013--2017, with an associated total cost saving of approximately 29.75 million RMB. To enhance the efficacy of the ETS policy, our findings suggest that the design of the policy should consider localized external factors. [ABSTRACT FROM AUTHOR]

Emission Trading Scheme (ETS) is one of the most important instruments introduced to meet carbon neutral targets internationally. To reduce carbon emissions, China has established eight regional ETS since 2013 to reduce carbon emissions. However, significant heterogeneities exist across the eight pilots, resulting in distinctively different carbon price movements. Traded as a financial asset, carbon allowance is vulnerable to internal and external shocks. Though carbon prices have been fluctuating fiercely since the inception of the carbon market, little is known about potential carbon price bubbles in any of these pilots. To this end, this paper resorts to the generalized sup Augmented Dickey-Fuller (GSADF) test, which allows the detection of multiple bubbles, as well as the date stamping of bubbles in carbon prices. For the first time, price bubbles are found in the Chinese carbon markets. The empirical results find three bubbles in Guangdong pilot, two bubbles in Tianjin pilot, and one bubble in Hubei pilot. These explosive episodes are closely related to immature market mechanisms and policy implementations. The results provide insightful implications for the upcoming unified national carbon market. • This paper detects the carbon price bubbles in Chinese markets. • Multiple bubbles exist in different pilots. • Not all pilots encounter bubbles. [ABSTRACT FROM AUTHOR]

Investigating the linkage between financial development (FD) and carbon emissions is important for mitigating climate change. Nevertheless, there is a scarcity of studies investigating how carbon emissions decouple from FD. Here, we investigate the relationship between FD and carbon emissions by using the decoupling model based on cross-province data of China during 2000–2019. Then, we use the decomposition method to analyze the nine drivers of decoupling elasticity of FD and CO2 emissions. We found that China experienced weak decoupling and strong negative decoupling in most years. Only the finance develops at a very high level; the FD had spare capacities to promote the reduction in the carbon emissions. For example, several developed provinces (e.g., Tianjin, Zhejiang, Guangdong) realized strong decoupling after 2012. The reduction in energy intensity and the increase of foreign direct investment promoted the decoupling of FD from carbon emissions. During the financial recession period, developing a bank-based financial market helped the emissions reduction. Once financial crisis is overcome, developing a market-based financial market promoted the decoupling of FD from emissions. This is because that with the fast FD, the development of stock market contributed to emission reductions through technological improvement, while the bank loans inhibited the decoupling process through the expansion of capital-labor inputs. Overall, these results help in the assessment of the emissions impacts of FD and in addressing climate change problems. [ABSTRACT FROM AUTHOR]

With the acceleration of urbanization in China, the urban surface thermal environment has undergone significant changes. This work aims to calculate the urban thermal comfort index using a temperature and humidity model with the land surface temperature and relative humidity. It also aims to explain the association between the land use/land cover change (LUCC) and urban surface thermal environment of the Beijing–Tianjin–Hebei (BTH) Region, the Guangdong–Hong Kong-Macao Greater Bay Area (GBA) and the Yangtze River Delta (YZD) in 2020, 2015, 2010 and 2005 using geographically weighted regression. The results reveal that (1) the three urban agglomerations have substantial heat island intensity regions, which are clustered and zonally distributed, and the annual average rates of the heat island area growth in the three regions are 1.01%, 1.41% and 1.09%, respectively. (2) Many uncomfortable areas exist in the three urban agglomerations, with an exponential growth trend in summer, and the annual average proportion of the uncomfortable areas in the three regions are 60.8%, 56.8% and 49.4%, respectively. (3) From the spatial point of view, the high-thermal comfort index areas of Beijing, Tianjin, Hebei, Guangdong, Hong Kong and Macao expand to the coast, and the high-index areas of the Yangtze River Delta expand to the inland. In terms of time, the annual distribution of thermal comfort in Beijing–Tianjin–Hebei is discrete, but the annual distribution of thermal comfort in Guangdong, Hong Kong, Macao and the Yangtze River Delta is concentrated. (4) In LUCC, the change intensity in construction land has a remarkable effect on the change in thermal comfort. The areas where the thermal comfort index increases positively correlate with the areas where the construction land increases. This study enriches the research on the impact of LUCC on urban ecological performance, and thus provides the necessary scientific basis for urban environment construction. [ABSTRACT FROM AUTHOR]

As haze intensifies in China, controlling haze emission has become the country's top priority for environmental protection. Because haze moves across different regions, it is necessary to develop a data envelopment analysis (DEA) model underpinned by both competition and cooperation to evaluate the haze emission efficiency in different provinces. This study innovatively adopts the spatial econometrics to construct the co‐opetition matrices of Chinese provinces, then builds the co‐opetition DEA model to evaluate the haze emission efficiency of them, and finally uses the haze data of 2015 as an example to assess the applicability of the model. The results of the study include the following: First, compared with the traditional CCR (A. Charnes & W. W. Cooper & E. Rhodes) model, this study constructs the co‐opetition DEA cross‐efficiency model that integrates haze's feature of cross‐border moving; thus, it is more in line with the reality of haze emission and movement. Second, compared with the efficiency value gained from the CCR model, the haze emission efficiency values for Tianjin and Guangdong, two decision‐making units, register greater variance when using the DEA model. The reason might lie in that they have a different spatial transportation relationship with their surrounding provinces. Third, the haze emission efficiency of provinces, according to the evaluation based on the co‐opetition DEA method, varies greatly: Those with high efficiency are mostly inland provinces with slow economic growth and adverse climatic conditions, whereas many of the provinces with low efficiency are located in the relatively prosperous East China. The specific co‐opetition DEA model constructed in this study enriches the research on the DEA model, which can be applied to the emission efficiency evaluation of similar pollutants around the world and can contribute empirical support to the haze reducing efforts of the government with its empirical results. [ABSTRACT FROM AUTHOR]